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Saudi Arabia, rich in oil in the Middle East, has made a big investment in the game world. According to the news in Aljazeera, a full $ 3.3 billion was invested in EA, Activision and Take-Two companies from the Saudi Public Investment Fund, the country’s wealth fund.

The investment revealed in the US Securities and Exchange Commission data was officially made in the last quarter of 2020. Saudi Arabia’s Activision-Blizzard $ 1.39 billion (15 million shares), EA $ 1 billion (7.42 million shares), and Take-Two $ 825 million (3.97 million shares). shares) are stated to be invested.

The Saudi Arabian investment fund currently owns 3.5% of Activision’s total stake. It has become the fifth largest investor of Activision. It holds 2.6% and 3.5% of EA and Take-Two, respectively.

Saudi Arabia has been investing heavily in the gaming world for a while. Just last November, an investment firm owned by Prince Salman purchased one third of SNK. The Public Investment Fund, also managed by Prince Selman, also has significant shares in companies such as Facebook, Disney, Uber and Boeing.

https://www.arabnews.com/node/1810896/business-economy


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